Political Risk Insurance

Political Risk Insurance

What is political risk insurance? Political risk insurance is a type of insurance that can be taken out by businesses against political risk. Political risk refers to the risk that revolution or other political conditions will result in a loss. In some insruance circles, political risk is defined as coverage against financial losses in connection with cross-border trade and investment transactions due to government interference. This may include risk that a sovereign host government will unexpectedly change the rule under which businesses operate. The insurance…

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Endowment Policy

Endowment Policy

How does and endowment policy work? Endowment policies typically have a minimum five-year term and they can go up  to 20 years or a certain age limit. An endowment policy is legally required to have a minimum five-year term. This applies to: The first five years of the policy, or Five years from the first day of any month during which the ‘120% rule’ takes effect. The 120% rule takes effect when your contributions in any policy year are greater than 120% of the higher…

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Workers-Compensation-Insurance

Workers Compensation Insurance

What is workers compensation insurance? Workers compensation insurance covers employees in the event of work-related accidents. Most of the companies overseas require you to have workers compensation insurance for any employees. These employees even include part-timers. If you run a franchise, some might require that you have workers’ compensation insurance if you have three or more employees. To keep the cost of your workers compensation as low as possible, be sure your employees are classified properly. If you miss the chance to inquire about the…

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Trade-Credit-Insurance

Trade Credit Insurance

Trade credit insurance is an insurance policy and a risk management product offered by private insurance companies and the government’s export credit agencies. It is only offered to businesses that could help to protect their income from losses due to credit risks such as protracted default, insolvency or bankruptcy. This insurance policy is a type of property and casualty insurance in one combined package. Trade Credit Insurance can include a clause of political risk insurance which is usually offered by the same insurers to insure…

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Personal-Accident-Insurance

Personal Accident Insurance

What is a personal accident insurance policy? A personal accident insurance policy will cover the policy holder in the event of an unforeseen accident if the policy holder is injured and admitted to a hospital or disabled as a result. Why should you consider a personal accident insurance policy? Most of the accident that occur on the road is cause by human error and other factors that include: Aggressive behaviour. Disobeying of traffic rules. Poor road conditions. Reckless driving. These are just a few examples…

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Pet-Insurance

Pet Insurance

What is pet insurance? Pet insurance is an insurance policy that is purchased by the owner of a pet. It will decrease the overall costs if any expensive medical bills will need to by paid for the pet. This is an equivalent to our health insurance but pet insurance will only cover a specific pet for a specific period and even have specific conditions. The type of pet insurance the owner takes it, will greatly affect his or her ability to take care of their…

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Builder’s risk insurance

What is a builder’s risk insurance policy? Builder’s risk insurance policy are a special type of property insurance which protects the policy holder against damage to buildings while they are under construction. Builder’s risk insurance is coverage that protects a person’s or organization’s items while it is being used in the construction or renovation of a building. These items are covered in the event that they sustain physical damage or when losses occur in the events described by your insurance company. How does the coverage…

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Crop-Insurance-Policy-640x472

Crop Insurance Policy

What is a crop insurance policy? a Crop insurance policy is purchased by commercial farmers to protect themselves against either the loss of their crops due to natural disasters or the loss of revenue due to the decline in prices of the agricultural commodities in our country. The two general categories of crop insurance are called crop-yield insurance and crop-revenue insurance. There are two main classes of crop-yield insurance policies: Crop-yield insurance policy: Crop-hail insurance is generally available from private insurers  because hail is a…

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Marine-insurance-policy

Marine insurance policy

What is a marine insurance policy? A marine insurance policy and marine cargo insurance policy will cover the loss or damage of ships at sea or on inland waterways. The cargo that may be on them will be covered as well. When the owner of the cargo and the carrier are not the same person or company, the owner of the cargo will be covered for losses due to fire, shipwreck theft and so forth. In such an event, the insurance company will exclude that…

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Renters-Insurance-Policy-640x472

Renter’s Insurance policy

What is a renter’s insurance policy? Renters’ insurance is an insurance policy which provides most of the benefits of homeowners’ insurance. It does not include coverage for the home, or building. The exception is when a tenant makes small alterations to the building. In this sense, renter’s insurance provides liability insurance. The tenant’s personal property is covered against perils such as fire, theft and vandalism. The owner of the building is responsible for insuring it, but he or she will take no responsibility for the…

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